Publication detail

Economic forecast, winter — revision

Economic growth is estimated to have been 4.2% during 2015 and the forecast
calls for growth of 4% in 2016, 3.1% in 2017 and nearly 3% per annum during
2018 – 2021. Domestic demand is growing considerably faster than GDP in the
first years of the forecast period, reflecting very strong consumption and
investment growth. Private consumption, driven by sharply increasing
disposable income, is predicted to increase by 5.2% in 2016, 4.2% in 2017,
3.2% in 2018 and nearly 3% during 2019 – 2021. Public consumption growth is
expected to be a modest 1.2 – 1.6% per year for the forecast period.